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Schaeffler India Limited Posts Positive Q2 2024 Results
Schaeffler India Limited Reports Strong Q2 2024 Performance with 13.3% Revenue Growth, 6.9% Increase in Profit Before Tax, and 12.2% Net Profit Margin.
by Damodharan N
Updated Jul 25, 2024
Table of Content
Schaeffler India Limited Q2 2024 Results
Schaeffler India Limited (BSE: 505790, NSE: SCHAEFFLER), a leader in motion technology, has reported its financial results for the second quarter and half year ended June 30, 2024. The company's revenue from operations for Q2 2024 reached INR 20,719 million, reflecting a 13.3% increase year-over-year and a 12.0% rise compared to the previous quarter.
Profit Before Tax (PBT) for the quarter stood at INR 3,399 million, up 6.9% from the same period last year. The PBT margin was 16.4%, slightly down from 17.4% in Q2 2023 but stable compared to the previous quarter's 16.5%. Net Profit for Q2 2024 was INR 2,535 million, with a net profit margin of 12.2%.
Harsha Kadam, Managing Director and CEO, highlighted the company’s strong performance, noting accelerated growth in domestic business and sustained momentum in intercompany exports. Kadam emphasized Schaeffler’s commitment to financial performance and long-term value creation, supported by effective cost management and a focus on environmental, social, and governance (ESG) principles.
Source: Here
Schaeffler India Half yearly Performance 2024
Schaeffler India in its financial performance for the first half of 2024, ending June 30. The company reported a revenue from operations of INR 39,212 million for the six-month period, marking an 11.3% increase compared to the same period in 2023.
The Profit Before Tax (PBT) for the first half of 2024 was INR 6,456 million, up by 5.5% from the previous year. The PBT margin for this period was 16.5%, slightly down from 17.4% in the first half of 2023. Net profit for the six months stood at INR 4,812 million, with a net profit margin of 12.3%, compared to 13.0% in the same period last year.
Schaeffler Group
Schaeffler Group is a leading company in motion technology with over 75 years of innovation. They focus on creating advanced technologies and products for electric mobility, CO₂-efficient drives, chassis solutions, and renewable energies.
Known for high-precision components and systems used in automotive and industrial applications, Schaeffler generated EUR 16.3 billion in sales in 2023. With around 83,400 employees, it is one of the world's largest family-owned companies and a top innovator in Germany.
Schaeffler India
Schaeffler India brings the Schaeffler Group’s 75-year legacy in motion technology to India, offering high-precision solutions tailored for the local market. As a key partner for industrial manufacturers, automobile makers, and renewable energy operators, Schaeffler India specializes in drivetrain and chassis components, as well as bearing solutions.
With 4 manufacturing plants, 3 R&D centers, 8 sales offices, and a strong aftermarket network, it focuses on efficiency, sustainability, and innovation. In 2023, Schaeffler India earned INR 72,261 million in revenue and employs 3,383 people, supporting its role as a reliable partner in automotive and industrial applications.
Schaeffler India Posts Positive Q2 2024 Results - FAQs
1. What is Schaeffler India's revenue for Q2 2024?
Schaeffler India's revenue from operations for Q2 2024 was INR 20,719 million, reflecting a robust performance in the quarter.
2. How much did Schaeffler India's revenue grow in Q2 2024?
The company experienced a 13.3% increase in revenue compared to the same quarter in 2023, highlighting strong growth.
3. What was the Profit Before Tax (PBT) for Q2 2024?
The Profit Before Tax (PBT) for Q2 2024 was INR 3,399 million, indicating a solid financial result.
4. What was the PBT margin for Q2 2024?
The PBT margin for Q2 2024 was 16.4%, which is slightly lower than the 17.4% margin from Q2 2023.
5. How does the PBT margin for Q2 2024 compare to Q2 2023?
The PBT margin decreased from 17.4% in Q2 2023 to 16.4% in Q2 2024, showing a small decline.
6. What is Schaeffler India's net profit for Q2 2024?
Schaeffler India's net profit for Q2 2024 was INR 2,535 million, reflecting a strong financial performance in the quarter.
7. What is the net profit margin for Q2 2024?
The net profit margin for Q2 2024 was 12.2%, slightly down from the previous year.
8. How much did Schaeffler India's revenue increase in the first half of 2024?
The company reported an 11.3% increase in revenue from operations for the first half of 2024 compared to the same period in 2023.
9. What was the revenue from operations for the first half of 2024?
For the first half of 2024, Schaeffler India's revenue from operations was INR 39,212 million, showing significant growth.
10. What was the Profit Before Tax (PBT) for the first half of 2024?
The Profit Before Tax (PBT) for the first six months of 2024 was INR 6,456 million, indicating an increase from the previous year.
11. What was the PBT margin for the first half of 2024?
The PBT margin for the first half of 2024 was 16.5%, slightly lower than the 17.4% margin from the same period in 2023.
12. How does the PBT margin for the first half of 2024 compare to the same period in 2023?
The PBT margin decreased from 17.4% in the first half of 2023 to 16.5% in the first half of 2024.
13. What is Schaeffler India's net profit for the first half of 2024?
Schaeffler India's net profit for the first half of 2024 was INR 4,812 million, reflecting a positive financial result.
14. What is the net profit margin for the first half of 2024?
The net profit margin for the first half of 2024 was 12.3%, down from 13.0% in the previous year.
15. How does the net profit margin for the first half of 2024 compare to 2023?
The net profit margin decreased from 13.0% in the first half of 2023 to 12.3% in the first half of 2024.
16. Who is the Managing Director and CEO of Schaeffler India?
The Managing Director and CEO of Schaeffler India is Harsha Kadam, who oversees the company's strategic direction.
17. What did Harsha Kadam say about the company's performance?
Harsha Kadam highlighted the accelerated growth in domestic business and continued success in intercompany exports, emphasizing the company's commitment to financial and operational excellence.
18. What is Schaeffler India's focus for financial performance and value creation?
Schaeffler India focuses on effective cost management and adherence to environmental, social, and governance (ESG) principles to enhance financial performance and create long-term value.
19. When did Schaeffler India announce its Q2 2024 results?
Schaeffler India announced its Q2 2024 results on July 23, 2024, providing an update on its financial performance.
20. What was Schaeffler India's PBT margin in Q1 2024?
The PBT margin for Q1 2024 was 16.5%, which is similar to the margin in the previous quarter.
21. What factors contributed to Schaeffler India's Q2 2024 performance?
Key factors included growth in the domestic market, sustained momentum in intercompany exports, and effective cost management.
22. How many manufacturing plants does Schaeffler India have?
Schaeffler India operates four manufacturing plants located in Pune, Savli, Maneja, and Hosur.
23. What are Schaeffler India’s primary product brands?
The primary product brands for Schaeffler India are FAG, LuK, and INA, which are integral to their product offerings.
24. What was Schaeffler India's revenue for 2023?
In 2023, Schaeffler India achieved revenue of INR 72,261 million, reflecting its strong market presence.
25. How many employees does Schaeffler India have?
Schaeffler India employs approximately 3,383 individuals across its operations.
26. What sectors does Schaeffler India focus on?
Schaeffler India focuses on automotive, industrial, renewable energy, and automation sectors, catering to diverse market needs.
27. What is Schaeffler India's approach to cost management?
The company employs a focused approach to cost management, aiming for efficiency and sustainability in its operations.
28. Where are Schaeffler India’s R&D centers located?
Schaeffler India’s R&D centers are located in Pune, Savli, Maneja, and Hosur, driving innovation and development.
29. What was the percentage increase in Schaeffler India's revenue compared to the previous quarter in Q2 2024?
The revenue increased by 12.0% compared to the previous quarter, indicating strong quarter-over-quarter growth.
30. How does Schaeffler India's Q2 2024 net profit compare to the previous quarter?
The net profit margin for Q2 2024 remained stable at 12.2%, with no significant change from the previous quarter.